Question 1

What is the primary objective of risk management in a business context?

Options :

A : To eliminate all risks in business operations

B : To ensure that all business activities are profitable

C : To identify, assess, and prioritize risks to minimize, monitor, and control their impact

D : To focus solely on the risks associated with financial investments

Answer: C

Question 2

Which of the following is a key principle of the SMED methodology?

Options :

A : Standardized processes and procedures

B :

Prioritizing the use of complex and specialized tools for set-up

C : Separating internal and external set-up activities

D : Focusing on increasing changeover times to improve quality

Answer: C

Question 3

A manufacturing company is studying the effect of three factors on the strength of their product: type of material, curing temperature and curing time. What is the term for each of the different materials that are being tested in this experiment?

Options :

A : Levels

B : Controls

C : Responses

D : Factors

Answer: A

Question 4

What is the primary goal of an executive summary in an effective audit report?

Options :

A :

To only present the positive aspects of the audit findings

B : To list every detail of the audit process

C : To provide a brief and clear overview of the main audit findings and conclusions

D : To focus on the auditor-s personal opinions about the auditee

Answer: C

Question 5

How does the pull system in lean philosophy differ from traditional production systems?

Options :

A :

Traditional systems produce goods or services based on a forecast, while pull systems produce based on actual customer demand

B : Traditional systems produce in large quantities, while pull systems produce in smaller quantities

C : Traditional systems focus on efficiency and productivity, while pull systems focus on quality and customer satisfaction

D :

Traditional systems rely on mass production, while pull systems rely on customization

Answer: A

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